Tinder CEO Sean Rad is stepping down, Steve Bertoni at Forbes reports.
IAC, Tinder's largest stakeholder, is looking for a more experienced CEO to replace 27-year-old Rad, who has had a tumultuous year.
Forbes has the inside story on co-founder Rad's move. He's going to stay on as CEO until the company finds "an Eric Schmidt-like person."
Insiders say Tinder's recent sexual harassment lawsuit was also to blame for Rad's downfall. Tinder's ousted cofounder Whitney Wolfe accused Rad, as well as cofounder Justin Mateen, of sexually harassing her. The suit was settled in September, with Forbes reporting that Wolfe gained over $1 million in the settlement.
Forbes also reports that Tinder's monetization plan, Tinder Plus, will roll out "imminently." The premium content will include a travel feature, allowing users to visit other cities and swipe through matches there, and an "undo" feature.